Statement regarding alleged fraud on NAB

Statement in response to reports in Fairfax media today regarding an alleged fraud on NAB by a former employee and former supplier:

“The alleged fraud was reported by a whistleblower.  NAB responded and acted immediately on Andrew Thorburn’s direction, investigated matters and reported them to police.

“If the alleged fraud is proven, it represents a most serious breach of trust by a former employee.

“NAB’s annual remuneration report, to be released today (Friday 16/11), states: “Certain matters emerged in the course of an investigation into an alleged fraud on NAB by a former employee and supplier to NAB.  These included certain control failings and breaches of policy in the Office of the CEO, and a small number of unintended breaches of policy by the Group CEO.  These matters have been resolved and closed to the Board’s satisfaction.

“We continue to cooperate fully with police, who have asked us to provide no further comment on the alleged fraud and the investigation.”



Related Articles

  • Full Year Results

NAB 2021 Full Year Results

NAB Group Chief Executive Officer Ross McEwan today released NAB’s 2021 Full Year Results and Annual Review.

  • 09.11.2021
  • Time to read 1 min read
  • Announcements

Port of Newcastle Hydrogen Hub

  • 08.11.2021
  • Time to read 1 min read
  • Climate

NAB receives HRH The Prince of Wales’ Terra Carta Seal in recognition of commitment to creating a sustainable future

NAB was awarded the inaugural 2021 Terra Carta Seal by His Royal Highness the Prince of Wales at the UN Climate Change Conference (COP26) in Glasgow.

  • 04.11.2021
  • Time to read 2 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.